As a result of the Argentine government's price controls on biodiesel, producers have decreased production and there is not enough available to supply the mandatory blend rate of 10 percent. U.S. Soybean Supply Tightens in USDA Report As Mike Krueger indicated yesterday, USDA did not make any unexpected changes in its supply and demand forecasts for soybeans and soybean products in the March WASDE report. It did increase its forecast for U.S. soybean exports by 20 million bushels to a record 1.53 billion bushels (41.64 MMT). It partially offset the increase in exports by reducing its forecast for U.S. soybean crush by 10 million bushels to 1.69 billion bushels (46 MMT) and by increasing its forecast for imports by 5 million bushels to 35...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.